The U.S. Treasury is accepting more losses on its Troubled Asset Relief Program (TARP), auctioning for the first time its holdings in banks that haven’t been making their dividend payments.

The Treasury on Wednesday said it will take in $191.3 million on its investment of $285.3 million in 11 such banks, The Wall Street Journal reports. It’s part of the government’s continuing efforts to exit TARP entirely.

One was a Missouri company, Citizens Bancshares of Chillicothe, which has missed a dozen payments and owes about $4.1 million in unpaid dividends. The Treasury recovered only $13.5 million on the almost $25 million it had invested in the bank.

Banking, Financial Services

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